Since appointing Alessandro Michele as creative director at the beginning of 2015, Gucci has made huge changes on both the creative and business sides of the brand. Under Michele’s leadership, the Italian brand has been taking creative risks and engaging with a younger consumer base. It’s working.
Kering, Gucci’s parent company, has reported that in the first fiscal quarter of this year, Gucci’s sales across all regions and product categories jumped by a record 48.3 percent. Retail sales increased by 34 percent while its wholesale grew by 37 percent.
Kering also owns Saint Laurent, and for the first time in recent history Gucci has surpassed Saint Laurent in sales growth. Under Hedi Slimane, Saint Laurent’s sales rose incredibly, and it looks like Michele could have a similar effect at Gucci.
Read the full story over at Business of Fashion.
In other fashion news, a massive Raf Simons sample sale is coming to Antwerp.